External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

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Zydus Lifesciences Ltd / Equity Bottom-Up

<p>It has a global presence and sells its products in the US, India, Europe &amp; emerging markets including countries in LatAm, Asia Pacific &amp; Africa Cadila is the fourth largest pharma company in India with 14 brands among...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

It has a global presence and sells its products in the US, India, Europe &amp; emerging markets including countries in LatAm, Asia Pacific &amp; Africa Cadila is the fourth largest pharma company in India with 14 brands among...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cadila Healthcare: Indian Shines but US Slowdown Persists

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>CDH delivered in line 4QFY21 earnings. Healthy traction in the Domestic Formulation (DF) and Consumer Wellness has offset the impact of weak US sales and improved EBITDA margin. It is well-placed to benefit from preventive as well as treatment drugs for COVID-19, in addition to improving performance in its core DF portfolio. The innovative pipeline is also progressing well in clinical studies. We maintain our FY22E/FY23E EPS estimate. We continue to value CDH at 25x 12-month forward earnings to arrive at our TP of INR740.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

CDH delivered in line 4QFY21 earnings. Healthy traction in the Domestic Formulation (DF) and Consumer Wellness has offset the impact of weak US sales and improved EBITDA margin. It is well-placed to benefit from preventive as well as treatment drugs for COVID-19, in addition to improving performance in its core DF portfolio. The innovative pipeline is also progressing well in clinical studies. We maintain our FY22E/FY23E EPS estimate. We continue to value CDH at 25x 12-month forward earnings to arrive at our TP of INR740.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India sales/operating leverage drives earnings

India

Cadila Healthcare Ltd. manufactures, and markets healthcare solutions ranging from formulations, active pharmaceutical ingredients, vaccines, diagnostics, health and dietetic foods, animal healthcare to cosmeceuticals.  The Company's products are available in tablets, capsules, injections, liquids, dry syrups, powders, granules, and ointments.

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Zydus Lifesciences Ltd (ZYDUSLIF IN)

Cadila Healthcare: Indian Shines but US Slowdown Persists

It has a global presence and sells its products in the US, India, Europe & emerging markets including countries in LatAm, Asia Pacific & Africa...

ICICI Securities Limited

India sales/operating leverage drives earnings

CDH delivered in line 4QFY21 earnings. Healthy traction in the Domestic Formulation (DF) and Consumer Wellness has offset the impact of weak US...

Motilal Oswal

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